Coca-Cola has reported higher quarterly profits as increased sales in North America offset lower revenues overseas due in part to the strong dollar.
Net income for the second quarter rose 19.8% to $3.1 billion while revenues dropped 3.3% to $12.16 billion.
Sales in North America, which account for nearly half of overall revenues, advanced 3.5% to $5.9 billion. However, revenues dropped in all overseas segments. The biggest decline was in Latin America, where sales fell 13% to $973 million.
The soda maker notched global growth of 2% in beverage volumes, a rise that included a 1% gain in Coca-Cola and a 6% increase in Coca-Cola Zero.
Net income was boosted by an accounting gain of $1.4 billion related to the purchase of a 16.7% stake in Monster Beverage and the transfer Coca-Cola's energy drink business to Monster.
Net income translated into 71 cents per share, or 63 cents when one-time items were excluded. Analysts had projected earnings of 60 cents per share.
